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Israel is looking at a profound, sustainable and solid long-term relationship with the UAE following the signing of Abraham Accord, said Yael Ravia-Zadok, deputy director-general and head of the economic affairs division at Israel’s Ministry of Foreign Affairs.
“We are very excited to be here in Dubai. This is the largest ever Israeli delegation visiting a country. This is a new beginning and a long way to go together. This is an exciting experience,” she said.
“This region needs peace, stability and security. Following the Abraham Accord and personal commitment of the people of the UAE and Israel, we hope that other countries will join this train for peace and stability,” she added.
“Both UAE and Israeli economies are technologically very advanced. But they are small and have arid areas so there is a challenge of water management, agriculture, food security. Other industries such as cyber, artificial intelligence, smart cities, smart mobility, fintech and healthcare are the key main domains that we have identified for the starting point,” Ravia-Zadok told Khaleej Times on the sidelines of the inaugural UAE-Israel Future Digital Economy Summit at Gitex Technolgy Week on Monday.
She expects half-a-billion dollars worth of trade bilateral trade in the first year and a potential of at least $5 billion to $6 billion in the coming few years.
“This relationship is a breakthrough to other markets. I can think of collaboration between the UAE and Israel with India, for instance, creating whole new opportunities. I can think of working UAE-Israel vis-à-vis the Arab world, East Asia and Africa. There is a potential of at least $5 billion to $6 billion trade in the coming few years. The pace depends on us,” she added.
-waheedabbas@khaleejtimes.com
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